accrual based accounting. Accrual based accounting is a method of accounting that .... calculating the annual sewer serv
Item 8.b
Ross Valley Sanitary District June 30, 2017
Interim Financial Reports
0
1) 2) 3) 4) 5)
Key Indicators Statement of Activities - Revenues & Expenditures - Year to Date Detailed Expenditure Report - Fiscal Year-to-Date Provided Quarterly Statement of Net Assets Monthly Cash Requirements The statements contained within the District's financial reports are prepared using accrual based accounting. Accrual based accounting is a method of accounting that recognizes revenue and expenditures in the period that they occur regardless of when payments are made or received.
Prepared By:
Julie Blue, CPA, Accounting & Financial Analyst
Ross Valley Sanitary District
Key Indicators Fiscal Year - July 2016 through June 2017 Cash Balances
Jun-17
1 2 3 4
Bank of Marin/Wells Fargo Restricted Cash - Project Funds LAIF Total Cash
14,024,218 16,033,362 6,003,260 36,060,841
5 6 7 8
Beginning Cash Cash Receipts Cash Disbursements Ending Cash Balance
37,195,187 1,133,073 (2,267,420) 36,060,841
Year To Date
Jun-17
Revenue 9 10 11
Revenue - Operating Revenue - Capital Total Revenue
18,319,235 6,838,132 25,157,366
Expenses 12 13 14 15 16 17 18
Treatment/Debt Service - CMSA Operations Salaries & Benefits Administrative Capital Projects Interest Total Expenses
Expenses
7,381,542 1,484,143 5,369,209 1,294,914 8,969,129 1,728,359 26,227,296 Treatment/Debt Service ‐ CMSA Operations Salaries & Benefits Administrative Capital Projects Interest
Page 1 of 9
Ross Valley Sanitary District Statement of Activities ‐ MTD/YTD Year to Date June 2017 Budget Actuals
Operating
Budget Variances Amount %
June 2016 Actuals
Revenue
1 2 3
Sewer Service Charges
18,207,719
18,012,917
248,441
306,317
18,456,160
18,319,235
Salaries & Benefits - Operations
4,203,006
Other Operational Expenditures
1,839,514
Treatment Charges - CMSA Debt Service - CMSA
Other Income Gross Revenue
(194,802)
-1% 23% a
17,108,518
(136,925)
-1%
17,513,781
4,148,107
(54,899)
1,484,143
(355,371)
-1% -19% b
2,509,695
5,018,268
5,229,142
210,874
4%
4,777,956
2,152,400
2,143,968
(8,432)
0%
1,985,352
13,213,188
13,005,359
(207,829)
-2%
13,018,803
111,088
57,876
405,263
Expenditures Maintenance/Repair/Inspection Expenditures
4 5 6 7 8
Total General Operating Expenditures
3,745,800
Administrative Expenditures
9 10 11 12 13 14 15
Salaries & Benefits - Administration
1,110,014
1,221,102
74,016
60,447
(13,569)
10% c -18% d
1,224,077
Office Supplies & Equipment General Administrative Expenditures
99,572
126,488
26,916
27% e
96,284
Facilities & Utilities - Administration
69,480
87,479
17,999
26% f
65,630
Board Fees & Other Expenditures
84,018
59,843
(24,175)
-29% g
82,394
Insurance (includes Excess Liability)
294,000
232,555
(61,445)
-21% h
180,426
Total Administrative Expenditures
1,731,100
1,787,914
56,814
3%
30% i -12% j
74,756
1,723,568
Outside Services
16 17 18 19 20 21
Community Outreach
95,000
123,362
28,362
Human Resources Consultant
220,000
192,549
(27,451)
Professional Services - Accounting/IT/Other
107,195
123,029
15,834
15% k
Professional Services - Legal
244,000
289,162
45,162
19% l
388,841
Total Outside Services
666,195
728,102
61,907
9%
884,906
15,610,483
15,521,376
(89,107)
-1%
15,627,277
2,845,677
2,797,859
(47,818)
-2%
1,886,504
6,014,865
6,645,701
630,836
231,204
192,431
Total Operating Expenditures
22
Operating Net Results
49,631 272,410 174,024
Capital Revenue
23 24 25 26
Property Tax - Ad Valorem Connection Fees Proceeds from Financing Activities Total Capital Revenue
8,266,000
-
(38,773)
10% m -17% n
o
(8,266,000)
14,512,069
6,838,132
(7,673,937)
1,953,382
1,728,359
27,836,000 3,014,600
Fixed Assets Purchased Lateral Replacement Grant Program
6,106,338 215,845 -
-53%
6,322,183
(225,023)
-12% p
1,973,669
7,228,854
(20,607,146)
-74% q
10,309,726
1,115,142
(1,899,458)
-63% q
243,637
540,890
222,707
(318,183)
-59% q
501,541
500,000
402,425
(97,575)
-20% r
31,891,490
8,969,129
(22,922,361)
(19,332,803)
(3,859,357)
15,473,446
Expense
27
Interest Expense Capital Projects & Upgrades
28 29 30 31 32 33
Capital Improvement Projects Other Capital Spending
Total Capital Projects & Upgrades
Capital Net Results
Page 2 of 9
685,050 11,739,953
-80%
(7,391,439)
Ross Valley Sanitary District Analysis of Variances
Variances of 10% and +- $1,000
Year to Date Jun-17 a Other Income - This item is higher than budget due to the receipt of a dividend from CSRMA for a pooled liability adjustment. This item was budgeted at a lower amount than what was received. Also the amount of interest received on the funds invested with LAIF was higher than budgeted. b Other Operational Expenditures - This item is lower than budget due to the budget including landscaping for the Larkspur Landing property that was budgeted but not done, the software support and maintenance costs for the Computerized Maintenance Management System (CMMS) not used, and emergency repairs budgeted at a higher amount which exceeded the need. Also, overall operational expenses are under budget due to a shift in operational activity. c Salaries & Benefits - Administration - This item is higher than budget due to the temporary labor employed to assist with accounting tasks which was not included in the budget. Costs for a District wide Sharepoint training are included in this item but were not budgeted for specifically. Also, this item is higher due to the board approved bonus paid to the General Manager. d Office Supplies & Equipment - This item is lower than budget primarily due to the budget including computer equipment needs that were anticipated but not yet needed. Also, the copiers at the Kerner facilities were replaced with more cost effective equipment contributing to the favorable variance. e General Administrative Expenditures - This item is higher than budget due to the fees paid for administration of the revenue bond funds, costs associated with the implementation of the permit system, purchase of software for the maintenance to track the employee training program, and license renewal to maintain network security. Also, contributing to the variance are the car allowances paid to the District's managers, per their contracts, which were not included in the budget f Facilities & Utilities - Administration - This item is higher than budget due to unforeseen costs for electrical work related to the set-up of replacement network copiers. This item is also higher than budget due to a water leak at the Kerner building which increased the water consumption and also created an expense for repairing it. Additionally, a consultant was hired to facilitate and organize the relocation of offices and the moving of records and office furniture which was not included in the budget. Lastly, building and maintenance repairs have been needed that were not specifically included in the budget. g Board Fees & Other Expenditures - This expenditure is lower than budget due to the budget averaging the total costs over the year. Also, there were no regular board meetings in December and no CMSA board meeting in February which reduced the annual board related expenses. Additionally, the budget included payments for CMSA meetings and an automatic increase to be adjusted in April neither of which will be made due to a recent decision by the Board of Directors. h Insurance (includes Excess Liability) - This expenditure is lower than budget due to the nature of this type of expense and the unpredictability from year to year. i Community Outreach - This item is higher than budget due to the contract services provided by the company NV5 for communications and outreach. The District engaged this outside consulting firm to assist with public outreach activities beginning in February 2017. j Human Resources Consultant - This item is lower than budget due to the decreased need for HR services. An increase in HR services have been performed by RVSD staff decreasing the need to use external resources. k Professional Services - Accounting/IT/Other - This expenditure is higher than budget due to the consulting costs for calculating the annual sewer service charges and the related software set-up. Also, Sharepoint support services were obtained by SharedSquared at which began in May. l Professional Services - Legal - This expenditure is higher than budget due to the cost of general legal expenses. See the Monthly Legal Activities and Costs Report included in the July board agenda packet for further information. m Property Tax - Ad Valorem - This item is higher than budget due to the amount of revenue received for Ad Valorem exceeding the budget.The budget was based on the prior years revenue at the time that the budget was produced. n Connection Fees - This item is lower than budget due to the revenue received for connections being lower than the amount budgeted. The budget was based on a slight increase from the actual revenue received in the prior year and . o Proceeds from Financing Activities - This item is lower than budget due to the delay in the need of financing for capital projects. Financing is anticipated to be needed and obtained in FY 2017/18. p Interest Expense - This item is lower than budget due to 50% of the interest for the bond payments made in FY 16/17 expensed in the prior year. The budget included the full interest payment. q Capital Improvement Projects/Other Capital Spending/Fixed Assets Purchased - These expenditures are lower than budget due to the timing of Capital Projects, Other Capital Spending and purchases of Fixed Assets. As the projects progress the billings and the recording of the projects also occur. Most of the projects and other capital spending arebeen incldued in the FY 17/18 budget. r Lateral Replacement Grant Program - This expenditure is lower than budget due to the timing of the allocation of grant funds. The funds were allocated at the level that was budgeted, with a 90-day deadline to submit the final paperwork requesting the payout of funds. This will result in variability between months but should level out as the year progresses. It is estimated that 80% of all budgeted funds will be allocated and used by year-end and the cash projections in this reports have been adjusted accordingly
Page 3 of 9
Ross Valley Sanitary District Serving the Greater Ross Valley Area for over 100 Yrs
Detail Expenditure Report - YTD Budget vs Actual Administration
1 2 3 4 5 6 7 8 9 10 11 12
Expense Type Salaries & Benefits Wage/Salary Expense Overtime Expense Payroll Taxes - Employer Retirement - Employer Insurance - Medical/Dental Insurance - Workers Comp Insurance - Other Employee Fitness Recruiting/Retention Temporary Labor Employee Training Total Salaries/Benefits
13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
General & Administration Bank Fees Business Meals Computer Equipment Conferences Insurance - Deductibles Insurance - Liability Interest Expense Meetings Membership Dues/Certs Miscellaneous Office Equipment Office Equipment Rental Office Supplies Postage Printing Property Taxes Software & Maintenance Travel - Airfare Travel - Auto/Ground Travel - Hotel Total General & Administration
34 35 36
System Maintenance Vehicle - Fuel Vehicle - Repair Total System Maintenance
admin
FY 2016/17 Budget
FY 2016/17 YTD Actual 06/30/17
Variance Actual vs Budget YTD
Variance % Actual vs Budget YTD
730,993 6,436 49,268 93,759 199,001 19,596 3,126 600 1,200 6,035 1,110,014
788,920 7,813 56,193 105,703 125,397 33,883 5,248 900 243 81,636 15,106 1,221,042
57,927 1,377 6,925 11,944 (73,604) 14,287 2,122 300 (958) 81,636 9,071 111,028
150% 10%
1,500 4,200 14,796 4,200 120,000 174,000 1,953,382 1,200 41,412 2,304 5,220 24,000 30,000 3,900 300 18,992 9,504 2,100 6,840 2,400 2,420,250
4,864 4,334 5,176 2,842 97,634 134,921 1,728,359 1,038 46,686 317 5,224 21,621 28,426 4,864 19,822 26,055 782 11,191 3,380 2,147,537
3,364 134 (9,620) (1,358) (22,366) (39,079) (225,023) (162) 5,274 (1,987) 4 (2,379) (1,574) 964 (300) 830 16,551 (1,318) 4,351 980 (272,713)
224% 3% -65% -32% -19% -22% -12% -14% 13% -86% 0% -10% -5% 25% -100% 4% 174% -63% 64% 41% -11%
420 300 720
312 312
(108) (300) (408)
-26% -100% -57%
Page 4 of 9
8% 21% 14% 13% -37% 73% 68% 50% -80%
Ross Valley Sanitary District Serving the Greater Ross Valley Area for over 100 Yrs
Detail Expenditure Report - YTD Budget vs Actual Administration
admin
FY 2016/17 Budget
37 38 39 40 41 42 43 44 45 46
Expense Type Faciltiies & Utilities Facilities - Garbage Facilities - Janitorial Facilities - Landscaping Facilities - Security Facilities - Sewer Facilities - Misc Utilities - Power Utilities - Telephone Utilities - Water Total Facilities & Utilities Board Expenses Board Conferences Board - Training Board Fees - RVSD Board Fees - CMSA Board Travel - Auto/Ground Board Travel - Business Meals Board Travel - Airfare Board Travel - Hotel Total Board Expenses
Board
47 48 49 50 51 52 53 54 55
Outside Services Audit/Accounting Human Resources Consultant Information Technology Legal - General Legal - Employment Matters Legal - Legislative Legal - Litigation Other Consultants Public Outreach Total Outside Services
OS
56 57 58 59 60 61 62 63 64 65 66 67
Total Other Expenses Total All Expenses - Administration
FY 2016/17 YTD Actual 06/30/17
Variance Actual vs Budget YTD
Variance % Actual vs Budget YTD
2,292 6,960 5,700 4,800 828 13,200 32,400 3,300 69,480
2,456 9,569 6,614 5,400 828 15,441 14,554 26,405 6,212 87,479
164 2,609 914 600 (0) 15,441 1,354 (5,995) 2,912 17,999
7% 37% 16% 12% 0% 0% 10% -19% 88% 26%
3,900 9,420 57,462 5,136 1,080 1,020 1,200 4,800 84,018
2,695 8,100 41,134 2,568 198 1,493 488 3,167 59,843
(1,205) (1,320) (16,328) (2,568) (882) 473 (712) (1,633) (24,175)
-31% -14% -28% -50% -82% 46% -59% -34% -29%
22,195 220,000 60,000 150,000 42,000 52,000 25,000 95,000 666,195
21,145 192,549 71,887 209,785 27,400 9,025 42,951 29,997 123,362 728,102
(1,050) (27,451) 11,887 59,785 (14,600) (42,975) 42,951 4,997 28,362 61,907
-5% -12% 20% 40% -35% -83%
3,240,663 4,350,677
3,023,273 4,244,316
(217,390) (106,361)
-7% -2%
Page 5 of 9
20% 30% 9%
Ross Valley Sanitary District Serving the Greater Ross Valley Area for over 100 Yrs
Detail Expenditure Report - YTD Budget vs Actual Operations
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Expense Type Salaries & Benefits Wage/Salary Expense Capitalized Labor Overtime Expense Standby Expense Payroll Taxes - Employer Retirement - Employer Retirement - Employee Insurance - Medical/Dental Insurance - Workers Comp Insurance - Other Employee Fitness Medical - Employment Exams Employee Training Recruiting/Retention Boot Allowance Total Salaries/Benefits
17 18 19
20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37
Ops
FY 2016/17 Budget
FY 2016/17 YTD Actual 06/30/17
Variance Actual vs Budget YTD
Variance % Actual vs Budget YTD
3,172,214 (966,996) 124,213 112,802 254,042 509,182 35,578 706,000 104,526 16,692 3,300 6,036 110,249 8,400 6,768 4,203,006
2,681,217 (360,730) 193,338 122,095 215,328 515,604 22,363 545,770 154,471 19,827 1,550 3,239 27,988 1,884 4,161 4,148,105
(490,997) 606,266 69,125 9,293 (38,714) 6,422 (13,215) (160,230) 49,945 3,135 (1,750) (2,797) (82,261) (6,516) (2,607) (54,901)
-15% -63% 56% 8% -15% 1% -37% -23% 48% 19% -53% -46% -75% -78% -39% -1%
Treatment Charges Treatment Charges Debt Service Total Treatment Charges
5,018,268 2,152,400 7,170,668
5,229,142 2,143,968 7,373,109
210,874 (8,432) 202,441
4% 0% 3%
System Maintenance Concrete/Soil/Rock/Paving Dump Fees Emergency Repairs Engineering Equipment Rental Equipment Repair FOG Program Materials & Parts Permits Rehab Materials Safety Compliance Safety Equipment Tools Uniforms Vehicle - Fuel Vehicle - Repair Capitalized Materials Total System Maintenance
84,000 5,160 180,000 119,340 16,800 83,400 25,000 183,828 22,980 60,000 49,200 38,640 117,672 40,560 78,060 125,100 (24,000) 1,205,740
17,924 3,088 83,808 18,136 49,093 71,643 11,105 198,307 14,230 14,087 36,792 128,836 39,906 62,583 138,833 888,368
(66,076) (2,072) (96,192) (101,204) 32,293 (11,757) (13,895) 14,479 (8,751) (60,000) (35,113) (1,848) 11,164 (654) (15,477) 13,733 24,000 (317,372)
-79% -40% -53% -85% 192% -14% -56% 8% -38% -100% -71% -5% 9% -2% -20% 11% -100% -26%
Page 6 of 9
Ross Valley Sanitary District Serving the Greater Ross Valley Area for over 100 Yrs
Detail Expenditure Report - YTD Budget vs Actual Operations
38 39 40 41 42 43 44 45 46
Expense Type General & Administration Membership Dues/Certs CMMS Maintenance/Support Conferences Office Equipment Office Supplies Printing Software & Maintenance Travel - Conferences/Training/Meetings Total General & Administration
47 48 49 50 51 52 53 54 55 56 57 58
Faciltiies & Utilities Facilities - Garbage Facilities - Janitorial Facilities - Landscaping Facilities - Rent Facilities - Security Utilities - Power Utilities - Telephone Utilities - Water Utilities - Internet Total Facilities & Utilities Total Other Expenses Total All Expenses - Operations
ops
FY 2016/17 Budget
FY 2016/17 YTD Actual 06/30/17
Variance Actual vs Budget YTD
Variance % Actual vs Budget YTD
23,202 115,140 2,520 59,016 12,300 6,000 10,718 10,650 239,546
20,539 58,060 3,085 34,617 12,722 13 21,799 16,299 167,133
(2,663) (57,080) 565 (24,399) 422 (5,987) 11,081 5,649 (72,413)
-11% -50% 22% -41% 3% -100% 103% 53% -30%
9,000 2,400 26,200 71,748 13,200 145,080 48,924 19,980 57,696 394,228 9,010,182 13,213,188
9,016 3,454 15,880 44,315 13,506 236,705 44,536 26,490 34,739 428,642 8,857,253 13,005,357
16 1,054 (10,320) (27,433) 306 91,625 (4,388) 6,510 (22,957) 34,414 (152,929) (207,831)
0% 44% -39% -38% 2% 63% -9% 33% -40% 9% -2% -2%
Page 7 of 9
Ross Valley Sanitary District Statement of Net Assets
Assets 1 2 3 4 5 6 7 8 9 10 11 12 13
Apr-17
Current Assets Cash Restricted Cash - Project Funds Property Taxes & Receivables Prepaid Taxes/Insurance/Expenses Investments for Deferred Comp Other Current Assets Total Current Assets Long-Term Assets Fixed Assets Accumulated Depreciation Funds for Canyon Road Other Long Term Assets Total Long-Term Assets
Total Assets Liabilities & Net Beginning Assets/Net Operations & Capital
14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29
Current Liabilities Accounts Payable Retention Fees - Contractors Connection Fees - CMSA Deferred Compensation Accrued Vacations & Payroll Other Accrued Liabilities Total Current Liabilities Long-Term Liabilities Bond Payable - Canyon Road Revenue Bond Liability Pension Liability OPEB Liability Total Long-Term Liabilities
Total Liabilities Retained Earnings & Equity Contributed Capital Retained Earnings Fund Equity Transfer
May-17
Jun-17
22,373,082 16,033,362 144,620 160,312 862,683 1,453,363 41,027,421
21,119,809 16,033,362 143,993 114,204 862,683 1,453,363 39,727,413
19,985,463 16,033,362 317,094 73,163 896,780 1,453,363 38,759,224
111,413,918 (29,543,209) 42,016 329,103 82,241,828 123,269,249
111,413,918 (29,543,209) 42,016 359,103 82,271,828 121,999,240
111,413,918 (29,543,209) 42,016 343,587 82,256,313 121,015,537
Apr-17
May-17
Jun-17
1,108,993 113,015 5,863 862,683 301,562 197,153 2,589,269
1,399,097 113,015 11,726 862,683 352,587 197,153 2,936,261
1,356,340 122,051 17,590 896,780 396,847 270,264 3,059,871
23,219 47,003,146 5,125,597 138,533 52,290,495 54,879,764
23,219 47,003,146 5,125,597 138,533 52,290,495 55,226,756
25,189 47,003,146 5,125,597 38,533 52,192,465 55,252,336
3,038,806 63,717,234 68,658
3,038,806 63,717,234 68,658
3,038,806 63,717,234 68,658
30
Net Beginning Assets
66,824,698
66,824,698
66,824,698
31 32
Net Operations and Capital Surplus/(Deficit)
Total Beginning Assets and Net Operations/Capital
1,564,786 68,389,485
(52,214) 66,772,484
(1,061,498) 65,763,200
33
Total Liabilities & Beginning Assets/Net Operations & Capital
123,269,249
Page 8 of 9
121,999,240
121,015,537
Ross Valley Sanitary District Monthly Cash Requirements FY 2016/17 July-16 Actual
Operating 1 2 3
Revenue Sewer Service Charges Other Income Gross Revenue
Aug-16 Actual
18,547 18,547
Sept-16 Actual
Oct-16 Actual
17,344 17,344
21,985 21,985
-
-
Nov-16 Actual
492,629 31,580 524,208
Dec-16 Actual
17,164 17,164
Jan-17 Actual
9,646,091 15,115 9,661,206
37,272 37,272
Feb-17 Actual
Mar-17 Actual
April-17 Actual
May-17 Actual
Jun-17 Actual
153 14,117 14,270
22,302 22,302
7,023,450 57,517 7,080,967
(15,356) 19,510 4,154
-
-
1,465,440 1,465,440
-
865,949 33,865 899,814
YTD Actual 18,012,917 306,317 18,319,235
Expenditures
4 5 6
CMSA Expenditures Treatment Charges - CMSA Debt Service - CMSA Total CMSA Expenditures
7 8 9
Maintenance/Repair/Inspection Expenditures Salaries & Benefits - Operations Other Operational Expenditures Total General Operating Expenditures
357,719 108,645 466,364
374,285 146,710 520,996
370,025 114,983 485,008
317,289 104,658 421,947
307,928 88,458 396,385
338,690 140,947 479,638
386,634 207,593 594,227
335,059 150,009 485,068
358,821 148,130 506,951
315,087 76,656 391,743
348,104 78,134 426,238
338,466 119,220 457,686
4,148,107 1,484,143 5,632,250
10 11 12 13 14 15 16
Administrative Expenditures Salaries & Benefits - Administration Office Supplies & Equipment General Administrative Expenditures Facilities & Utilities - Administration Board Fees & Other Expenditures Insurance (includes Excess Liability) Total Administrative Expenditures
82,614 3,942 18,319 5,178 4,529 10,696 125,278
91,554 4,200 10,485 6,516 10,011 12,158 134,924
107,866 3,504 11,857 7,785 7,864 13,077 151,953
94,994 9,913 3,052 11,522 3,130 17,191 139,801
99,414 7,115 6,792 5,029 5,302 12,420 136,071
115,764 5,421 20,200 9,478 2,102 10,696 163,661
105,378 5,076 27,372 5,435 6,726 11,129 161,116
99,757 5,285 2,883 6,812 3,649 11,129 129,514
106,386 4,137 2,953 6,732 3,431 11,129 134,767
96,024 2,552 16,112 5,554 3,963 11,569 135,774
106,266 3,007 3,124 4,640 4,022 99,794 220,852
115,084 6,295 3,340 12,800 5,114 11,569 154,202
1,221,102 60,447 126,488 87,479 59,843 232,555 1,787,914
17 18 19 20 21 22
Outside Services Community Outreach Human Resources Consultant Professional Services - Accounting/IT/Other Professional Services - Legal Total Outside Services Total Operating Expenditures
5,853 20,463 3,645 33,284 63,245 3,588,408
5,299 16,726 19,650 34,012 75,687 731,607
2,946 26,039 13,665 28,636 71,286 708,247
13,580 16,712 4,375 16,363 51,029 1,867,345
5,368 12,136 17,704 17,032 52,241 584,697
4,276 14,611 5,458 18,280 42,625 685,924
4,383 17,298 4,760 19,570 46,010 2,529,366
4,394 14,180 8,198 23,127 49,899 664,481
8,994 13,461 6,285 24,817 53,557 695,275
14,201 8,429 7,549 17,814 47,993 2,040,949
28,742 12,492 17,098 36,184 94,516 741,607
25,327 20,002 14,643 20,042 80,014 683,470
123,362 192,549 123,029 289,162 728,102 15,521,376
(3,569,862)
(714,263)
(686,262)
(1,343,137)
(567,534)
8,975,283
(2,492,093)
(650,211)
(672,972)
5,040,018
(737,453)
216,344
2,797,859
99,777 28,632 128,409
3,379,220 8,585 3,387,805
79,404 7,024 86,428
18,024 10,747 28,771
2,509,431 20,805 2,530,236
62,164 24,560 86,724
450,032 25,640 475,672
6,645,701 192,431 6,838,132
-
-
-
545,047 545,047
1,728,359 1,075,000 2,803,359
23
1,254,567 1,678,955 2,933,522
Operating Net Results
1,254,567 1,254,567
-
-
1,254,567 473,445 1,728,013
(8,432) (8,432)
5,229,142 2,143,968 7,373,109
Capital 24 25 26 27
Revenue Property Tax - Ad Valorem Connection Fees Proceeds from Financing Activities Total Capital Revenue
28 29 30
Debt Service Interest Expense Principal Payments on Debt Total Debt Service
31 32 33 34 35
Capital Expenditures Capital Improvement Projects Other Capital Spending Fixed Assets Purchased Lateral Replacement Grant Program Total Capital Expenditures
36
Total Debt Service & Capital Expenditures
6,572 6,572
9,964 9,964
22,988 22,988
31,554 20,782 52,336
-
-
209,722 310,000 519,722
-
-
-
16,093 6,132 22,225 560,347 765,000 1,325,347
413,244 413,244
788,284 35,472 29,943 3,000 856,700
365,423 55,906 128,488 12,000 561,816
428,919 34,081 21,000 484,000
608,308 100,857 38,000 747,165
390,806 269,826 31,500 692,132
478,393 65,785 34,500 578,678
411,856 196,129 22,500 630,485
337,564 20,549 5,543 30,000 393,657
598,450 142,827 39,719 31,500 812,496
999,672 39,289 19,015 31,500 1,089,476
867,799 78,973 19,500 966,272
953,381 75,447 127,425 1,156,252
7,228,854 1,115,142 222,707 402,425 8,969,129
856,700
561,816
1,003,722
747,165
692,132
578,678
1,955,832
393,657
812,496
1,502,720
966,272
1,701,299
11,772,488
37
Capital Net Results
(850,128)
(551,852)
(980,734)
(694,829)
(563,722)
2,809,127
(1,933,607)
(307,229)
(783,725)
1,027,516
(879,548)
(1,225,627)
(4,934,357)
38
Operating & Capital Net Results
(4,419,989)
(1,266,115)
(1,666,996)
(2,037,966)
(1,131,256)
11,784,410
(4,425,700)
(957,439)
(1,456,697)
6,067,534
(1,617,001)
(1,009,284)
(2,136,498)
39 40 41 42 43 44 45 46 47
Additional Cash Effects - Inflow (Outlay) Accounts Receivables Billed/Collected Prepaid Insurance Policies Prepaid CalPERS Unfunded Liability Change in Liabilities Lateral Replacement Loan Program (net of payments) Revenue Bond Payments OPEB Liability Payment Other Miscellaneous Changes to Balance Sheet Net Additional Cash Effect
102,760 20,309 (260,568) 411,471 (27,009) 246,964
142,889 10,101 23,688 (1,005,677) (16,500) 1,722 (843,777)
(102,095) 23,688 (216,481) (8,294) (209,722) (512,496)
(491,828) 22,567 23,688 33,572 (9,700) (421,701)
22,567 23,688 1,043 (35,931) 762 12,129
316,538 22,567 23,688 (310,106) (10,388) (1,311,747) (70,134) (1,339,582)
3,194 (70,520) 23,688 308,384 (6,600) 1,311,747 65,532 1,635,424
93,329 (2,206) 23,688 (131,588) (41,635) (3,333) (61,745)
42,082 23,000 23,688 (246,550) (26,056) (413,244) (1,540) (598,619)
3,279 23,440 23,688 70,317 2,409 413,244 4,124 540,501
25,671 23,688 343,741 (30,000) 627 363,728
(173,102) 22,190 23,338 197,026 15,515 (105,543) (100,000) (4,488) (125,063)
39,141 17,589 (350) (544,847) (167,179) (315,265) (100,000) (33,327) (1,104,237)
39,301,576 (4,173,025)
35,128,550 (2,109,892)
33,018,658 (2,179,492)
30,839,166 (2,459,667)
28,379,500 (1,119,127)
37,705,201 (2,790,276)
34,914,925 (1,019,184)
33,895,741 (2,055,316)
31,840,425 6,608,035
38,448,460 (1,253,273)
37,195,187 (1,134,347)
39,301,576 (3,240,735)
48 Cash Balance Begin 49 Cash Requirements
50 Cash Balance End
35,128,550
33,018,658
408
30,839,166
28,379,500
27,260,373
Page 9 of 9
27,260,373 10,444,828
37,705,201
34,914,925
33,895,741
31,840,425
38,448,460
37,195,187
36,060,841
36,060,841
Ross Valley Sanitary District June 1 through June 30, 2017
Check Register & Change in Cash Report
1) Check Register and Change in Cash Report
The Check Register and Cash Reconciliation is prepared using cash based accounting and therefore does not tie directly to the accrual based financial reports. Cash based accounting is a method of accounting that recognizes revenue and expenditures in the period the cash is paid or received.
Ross Valley Sanitary District Check Register and Change in Cash Report - June 2017 Line#
Payee
Description of Purchase
Check #
Amount Paid
1
3T Equipment Company Inc.
Super Ripcord Smoke Tester - Condition Assessment
59172
2
A&S Landscape Materials Inc
4.5 cy Recycled Base Rock - Line Repair
59308
2,986 101
3
Accountemps
Temporary Help Admin - Weeks Ending 05/12, 05/19, & 05/26
59208
5,752
4
Accountemps
Temporary Help Admin - Week Ended 06/02
59231
1,753
5
Accountemps
Temporary Help Admin - Weeks Ending 06/09 & 06/16
59310
4,314
6
AG Security Services, Inc.
Security Services 07/2017-09/2017 - Admin
59311
276
7
Airgas
Equipment Repair- Line Repair
59173
759
8
Airgas
Acetylene & Argon Cylinder Rentals 05/2017 - Line Maint
59260
51
9
Airgas
Acetylene & Argon Cylinder Rentals 06/2017 - Line Maint
59312
47
10
Alhambra Standard
Water Delivery LLC - Ops
EFT
140
11
Alliant Insurance Services
Commercial Crime Insurance Policy 07/2017-7/2018
59232
1,250
12
Alphagraphics Marin
FY 2017/18 Rate Increase Notification Postage
59199
2,961
13
Alphagraphics Marin
FY 2017/18 Rate Increase Notification Printing/Mailing
59261
3,980
14
American Fidelity Assurance Company
Flex Account Year-End Adjustment
59262
1,373
15
American Textile & Supply, Inc.
Color Terry Wiper Material - Pumps
59174
105
16
American Textile & Supply, Inc.
Materials & Parts - Line Maint
59313
244
17
Amesos Plumbing, Inc.
CCTV Inspections - San Anselmo Paving Projects
59175
1,600
18
Amesos Plumbing, Inc.
CCTV Inspections - San Anselmo Paving Projects
59314
200
19
Andersen Place & Associates
1221 Andersen Drive Units K & L Rent - Ops
59176
3,540
20
Answer Page Inc.
Answering Services - 06/2017
59177
112
21
Aries Industries Inc.
Remote, Wireless Seekers - Tools Condition Assessment
59178
1,758
22
AT&T
Statement - 04/13-05/12
59209
1,207
23
AT&T
Statement - 05/13-06/12
59315
1,207
24
AT&T Mobility
Statement - 04/19-05/18
59179
254
25
Bart Skorupa
LRGP - 335 Cascade Dr., Fairfax
59166
1,500
26
Bay Area Barricade Service Co.
28" 7Lb HSP Cones x 40 - Line Repair
59180
700
27
Bay Area Barricade Service Co.
Safety Equipment Signs - Condition Assessment
59316
745
28
Big Bear Fire Extinguisher Co Inc.
Fire Ext Annual Maint/Monthly Insp - Ops
59263
66
29
BNY Mellon
Bond 2014 Interest Payment
59258
545,042
30
Bonnie & Raymond Groshong
LRGP - 17 Terrace Ave., San Anselmo
59291
1,500
31
Brown and Caldwell
Sleepy Hollow Rehab/Large Diameter
59317
86,284
32
CA Water Environment Assoc.
Membership Renewals - Ops
59290
948
33
Cameron Yarbrough
LRGP - 55 Durham Rd., San Anselmo
59305
1,500
34
Center for Hearing Health, Inc
Annual Audiometric Testing - Ops
59181
688
35
Charles & Ann Stevens
LRGP - 5 Madera Ave., Ross
59171
1,500
36
Cintas
Uniforms Delivered - 03/27, 04/03, 05/22 & 05/24
59182
1,528
37
Cintas
Uniforms Delivered - 05/29, 05/31, & 06/07
59233
776
38
Cintas
Uniforms Delivered - 06/05
59264
347
39
Cintas
Uniforms Delivered - 06/12, 06/12, & 06/19
59318
892
40
Coast Landscape Management
Regular Landscape Maintenance 06/2017
59234
967
41
Corina Hatfield & Derek Thompson
LRGP - 15 Florence Ave., San Anselmo
59227
1,500
42
Covello Group, Inc.
FY14/15 Force Main Appurtenance Project 05/2017
59210
1,538
43
Covello Group, Inc.
Large Diameter Gravity Sewer Rehab - 05/2017
59235
14,100
44
Covello Group, Inc.
Large Diameter Gravity Sewer Rehab/PS12 & 13- 04/2017
59319
20,217
45
Craig & Sarah Powers
LRGP - 2 Allemand Ln., San Anselmo
59167
1,500
46
CSRMA
Insurance Deductibles - FY 16/17
59265
83,835
47
CTS International
Training Program - 04/2017
59266
21,712
48
CWEA-SFBS
Supervisor Training - Condition Assessment
59230
65
49
David & Lisa Lalanne
LRGP - 39 Corte Morada, Greenbrae
59224
1,500
50
David & Mary Stabenfeldt
LRGP - 71 Corte Del Bayo, Larkspur
59304
1,500
51
David B. Jones
LRGP - 12 Austin Ave., San Anselmo
59219
1,500
52
Delta Dental
Dental Insurance - 06/2017
EFT
4,217
53
Diego Truck Repair, Inc.
Vehicle Repairs - Ops
59201
1,826
54
Diego Truck Repair, Inc.
Vehicle Repairs - Ops
59267
158
55
DKF Solutions Group, LLC
Audit SSO Records & CIWQS Data
59268
4,500
56
DMV
Trailer Identefication (PTI) Service Fee
59320
10
57
DowneyBrand
Legal Services - 05/2017
59183
1,645
58
DowneyBrand
Legal Services - 05/2017
59269
27,390
59
DowneyBrand
Legal Services - 05/2017
59321
875
60
Edward & Claire Straube
LRGP - 35 Van Tassel Ct., San Anselmo
59164
1,500
61
Electronics Plus, Inc
Parts - Line Repair
59322
33
62
Elliot & Heidi Morshead
LRGP - 15 Van Tassel Ct., San Anselmo
59292
1,500
63
Epic Engineering, LLC.
Repairs at PS 14 -Pumps
59184
3,730
64
Erin & Judd Sher
LRGP - 4 Greensburgh Lane, San Anselmo
59225
1,500
65
Fairfax Lumber Co
3 cu ft Bales - Ops
59236
59
66
Fastenal Company
Safety Equipment & Gear - Ops
59237
360
Page 1 of 4
Ross Valley Sanitary District Check Register and Change in Cash Report - June 2017 Line#
Payee
Description of Purchase
Check #
Amount Paid
67
Fitzpatrick Heating Inc.
Service Call - Kerner
59238
205
68
Fitzpatrick Heating Inc.
Service Call 06/12- Kerner
59323
833
69
GAWFCO Enterprises, Inc.
Fuel Purchases - 05/2017
59324
1,885
70
Grainger Inc.
Asphalt Cutter - Line Repair
59306
368
71
Grainger Inc.
Parts - Pumps
59325
6
72
Hardiman Construction
LRLP - 18 Summit Rd., San Anselmo
59185
10,000
73
Harris & Associates, Inc.
FY 2015/16 & 2016/17 Gravity Sewer Improvements
59326
201,137
74
Home Depot Credit Service
Materials & Tools - Ops
59186
1,682
75
Instrument Technology Corporation
vLocPro2 Receiver, USB cord,& Batteries - Inspections
59239
2,358
76
IT Hub LLC
Computer Harware - Ops
59271
534
77
J W Mobile
Sprinter 3500 Repair - Condition Assessment
59187
2,754
78
J W Mobile
Vehicle Repair - Condition Assessment
59328
2,741
79
Jackson's Hardware, Inc
Materials & Parts - Ops
59240
141
80
Jackson's Hardware, Inc
Boot Allowances - Ops
59272
296
81
Jeffrey M. Howson
LRGP - 812 Sir Francis Drake Blvd., Kentfield
59300
1,500
82
Jetters Northwest
Compact Water Tank, Hose Kit, & Frame Package - Ops
59188
1,349
83
Jetters Northwest
Warthog Service Kit - Condition Assessment
59273
308
84
Joan B. Vermond
Low Income Customer Rebate Program
59298
199
85
Joseph Ghiringhelli
Refund for Adjusted Sewer Service Charges - Water Leak
59347
1,674
86
Katie McGraw & Jason Holt
LRGP - 138 Sycamore Ave., San Anselmo
59169
1,500
87
Ken Mancuso
LRGP - 90 Alder Ave., San Anselmo
59221
1,500
88
Kimberly & Owen Tripp
LRGP - 202 Harvard Dr., Larkspur
59163
1,500
89
Knock 'Em Out Pest Control, Inc.
Pest Control Service 06/08/17 - Kerner
59329
65
90
Kristin & Ryan Cooney
LRGP - 33 Carlson Ct.,San Anselmo
59349
1,500
91
La Roccas Building Maintenance
Janitorial Services LLC - 05/2017
59189
199
92
La Roccas Building Maintenance
Janitorial Services & Addtl Services Kerner - 05/2017
59211
1,201
93
Lance Lesneski
LRGP - 22 Marina Vista Ave., LK
59202
1,500
94
Laurnce Mindel
LRGP - 17 Waverly Rd., San Anselmo
59222
1,500
95
Lynne Law
LRGP - 300 Greenfield Ave., San Anselmo
59223
1,500
96
Maria G. Musser
Low Income Customer Rebate Program
59206
179
97
Marin County Clerk
LLC Remediation Permits
59296
2,266
98
Marin Fence Company
Gate Repair Kerner - Admin
59241
125
99
Marin Gas & Auto Service
Fuel Purchases - 05/2017
59274
644
100
Marin General Services Authority
FY 17/18 Marin Map Annual Membership
59330
10,000
101
Marin Independent Journal
Public Outreach - Advertising
59259
2,886
102
Marin Municipal Water District-Vendor
Utilities 03/14/17 - 05/12/17 - Pumps
59200
535
103
Marin Resource Recovery-798
Dump Fees - Line Repair
59275
250
104
Marin Sanitary Service
Garbage Service LLC & Kerner 06/2017
EFT
974
105
Mary J. Moyer
Low Income Customer Rebate Program
59297
179
106
Mary Sylla {BM}
Board Member Travel for Conference
59331
977
107
MCC Building Maintenance
Landscape Maintenance 05/2017 - Kerner
59212
450
108
MCC Building Maintenance
Landscape Maintenance 06/2017 - Kerner
59242
450
109
Melody Creel
LRGP - 1 Carmel Way, San Anselmo.
59217
1,500
110
Mercedes-Benz of Fairfield
Sprinter Repair - Condition Assessment
59243
2,899
111
Meridian Surveying Engineering, Inc.
Site Survey - Larkspur School District
59190
3,800 1,425
112
Michael & Janice Marovich
LRGP - 42 Barber Ave., San Anselmo
59229
113
Municipal Maintenance Equipment Inc.
Peterbilt Repair - Line Maint
59191
4,660
114
Mutual of Omaha
06/2017 Coverage
EFT
1,613
115
National Construction Rentals
Fence Rental LLC - 06/2017
59276
857
116
NBS Local Government Solutions
Parcel/Boundary Review & Set-up
59351
4,850
117
Nerviani Paving Inc.
Patching - Various Locations
59244
2,250
118
Nicholas Narodny
LRGP - 345 The Alameda, San Anselmo
59301
1,500 1,587
119
North Bay Petroleum
Fuel Delivered - 05/12, 05/17, 05/19, & 05/25
59192
120
North Bay Petroleum
Fuel Delivered -06/01
59245
309
121
North Bay Petroleum
Fuel Delivered - 05/30, 06/06, & 06/08
59277
693 624
122
North Bay Petroleum
Fuel Delivered -06/14 & 06/16
59333
123
North HVAC Service
Service/Repair Air Conditioner Kerner
59213
651
124
NV5, Inc.
RVSD Communications & Outreach 03/2017
59278
6,360
125
Orchard Supply Hardware
Parts - Line Repair
59193
73
126
Owen Equipment
Vehicle Repair - Condition Assessment
59334
241
127
Pacific Gas & Electric Co.
PG&E Pump Kerner - 04/2017 & 05/2017
EFT
2,370
128
Pacific Gas & Electric Co.
PG&E Pump Stations- 04/2017 & 05/2017
EFT
35,465
129
Patrick Trahan
LRGP - 10 Michael Way, San Anselmo
59228
1,500
130
Paul & Danielle Nelson
LRGP - 75 Paseo Way, Greenbrae
59226
1,500
131
Peninsular Technologies, LLC
Software Support & Updates - 07/2017-07/2018
59246
1,658
132
Pennzoil 10 Minute Oil Change
Vehicle Repair - Line Maint
59335
59
Page 2 of 4
Ross Valley Sanitary District Check Register and Change in Cash Report - June 2017 Line#
Payee
Description of Purchase
Check #
Amount Paid
133
Peter M. Pyle
Low Income Customer Rebate Program
59299
199
134
Peterson Trucks
Vehicle Repair - Line Maint
59194
1,010
135
Pipe Users Group
Membership Renewal FY 17/18
59279
350
136
Pitney Bowes Inc.
Postage Supplies - Admin
59214
133
137
Ranger Pipelines, Inc.
Force Main Appurtenance Project Encroachment Permits
59215
4,156
138
Ranger Pipelines, Inc.
Large Diameter Gravity Sewer Rehab & FY 15/16 Gravity Sewer Rehab
59336
535,531
139
Ranger Pipelines, Inc./Escrow
FY 15/16 Gravity Sewer Retention Payment
59337
17,886
140
Red Cloud
Portable Radios - Condition Assessment
59280
1,581
141
Reese & Elizabeth Laughlin
LRGP - 224 Ridgeway Ave., Fairfax
59165
1,500
142
Regional Government Services
Finance Support Services - Admin
59195
2,769
143
Regional Government Services
Human Resource Services & Finance Support - 05/2017
59281
15,161
144
Richard Burns
LRGP - 24 Barber Ave., San Anselmo
59220
1,500
145
Roger L. & Lynn B. Lewis
Low Income Customer Rebate Program
59207
179
146
Scheidegger & Associates
Large Diameter Environmental Review
59339
24,234
147
Sea Cow LLC
LRGP - 218 William Ave., Larkspur
59302
1,500
148
Sewer Connection Inc.
LRLP - 243 Kent Ave., Kentfield
59196
10,000
149
ShareSquared, Inc.
SharePoint Support Services - 05/2017 & 06/2017
59340
3,700
150
Sperry Capital Inc.
Financial Advisory Services - 04/28/17 to 05/03/17.
59197
1,350
151
Stacee Christen
LRGP - 220 Los Cerros Dr., Greenbrae
59170
1,500
152
Staples
Office Supplies - Admin
59216
775
153
Staples
Office Supplies - Admin
59247
74
154
Staples
Office Supplies - Admin
59282
62
155
Staples
Office Supplies - Admin & Ops
59341
1,356
156
Susan Krausz
LRGP - 126 Van TAssel Ct., San Anselmo
59256
1,500
157
Synergy Health Center & Urgent Care
Employee Exam - Ops
59283
150
158
T & B Sports Inc.
Uniforms Crew Hats - Ops
59248
571
159
T & B Sports Inc.
Uniforms Crew Sweatshirts - Ops
59284
238
160
Telog Instruments, Inc.
Remote Telementry Units PS 10, 13, 14 & 15 - Pumps
59285
960
161
Terry Yung
LRGP - 205 Madrone Ave., Larkspur
59257
1,500
162
TFS Leasing
Copier Rental 06/15/17-07/14/17
163
TNT Safety Enterprises Inc.
FA/CPR/AED Training - Admin & Ops
EFT
557
59286
2,635
164
Top of the World Properties LLC
LRGP - 101 Van Winkle Rd., San Anselmo
59303
1,500
165
Transbay Security Service
Master Key Padlocks 16 - Ops
59287
328
166
Uline
Latex Gloves - Line Maint
59198
509
167
Uline
Supplies - Ops
59198
878
168
United Site Services of California
Standard Bathroom W/Sink 06/06/17 - 07/03/17
59342
144
169
USA Fleet Solutions
Monthly Tracking - 05/2017
59249
28
170
Verizon Wireless
M2M Account Share 5MB 04/25-05/24
59250
7
171
Victoria Weiss
LRGP - 44 Mariposa Ave., San Anselmo
59168
1,500
172
Vision Service Plan
Vision Insurance - 06/2017
173
Water Components & Building Supply
Material & Parts - Ops
59251
183
174
Water Components & Building Supply
Materials/Parts/Tools - Ops
59288
441
EFT
624
175
Weco Industries LLC
Claw for Attaching to Poles - Condition Assessment
59252
394
176
Weco Industries LLC
Swivel Reel & Smoke Fluid - Condition Assessment
59343
1,908
177
William & Candanese Mitchell
LRGP - 10 Morningside Dr.,San Anselmo
59348
1,500
178
Woodland Center Auto Supply
Vehicle Repair - Ops
59253
359
179
Woodland Center Auto Supply
Vehicle Repair - Line Maint
59289
96
180
Woodland Center Auto Supply
Material & Parts - Ops
59344
65
181
WorkWorld
Boot Allowance - Ops
59254
250
182
WorkWorld
Boot Allowance - Ops
59345
250
183
Xerox Corporation
Copier Rental (2) - 05/2017
59255
902
184
Zee Medical Service Company Inc.
Safety Materials - Ops
59346
185
Wells Fargo Bank - Credit Card
Board Meetings
186
Wells Fargo Bank - Credit Card
187
Wells Fargo Bank - Credit Card
188
981
WF CC 05/17
91.87
Cell Phones - 05/2017
WF CC 05/17
2,352.18
Fuel Purchases - Ops
WF CC 05/17
89.00
Wells Fargo Bank - Credit Card
Materials & Supplies - Ops
WF CC 05/17
1,126.85
189
Wells Fargo Bank - Credit Card
Meetings - Admin
WF CC 05/17
354.85
190
Wells Fargo Bank - Credit Card
Meetings - Ops
WF CC 05/17
34.23
191
Wells Fargo Bank - Credit Card
Memberships - Admin
WF CC 05/17
1,020.00
192
Wells Fargo Bank - Credit Card
Phones 05/2017 - Admin
WF CC 05/17
903.95
193
Wells Fargo Bank - Credit Card
Phones/Internet 05/2017 - Ops
WF CC 05/17
2,927.35
194
Wells Fargo Bank - Credit Card
Postage/Shipping - Admin
WF CC 05/17
89.22
195
Wells Fargo Bank - Credit Card
Public Outreach - Advertising
WF CC 05/17
1,738.43
196
Wells Fargo Bank - Credit Card
Software/Maintenance - Admin
WF CC 05/17
971.71
197
Wells Fargo Bank - Credit Card
Software/Maintenance - Ops
WF CC 05/17
280.00
198
Wells Fargo Bank - Credit Card
Tools - Ops
WF CC 05/17
1,154.43
Page 3 of 4
Ross Valley Sanitary District Check Register and Change in Cash Report - June 2017 Line#
Payee
Description of Purchase
Check #
Amount Paid
199
Wells Fargo Bank - Credit Card
Training - Ops
WF CC 05/17
2,400.00
200
Wells Fargo Bank - Credit Card
Travel - Admin
WF CC 05/17
1,625.23
201
Wells Fargo Bank - Credit Card
Travel - Ops
WF CC 05/17
77.58
202
Wells Fargo Bank - Credit Card
Utilities Water - Admin
WF CC 05/17
345.42
203
Wells Fargo Bank - Credit Card
Utilities Water - Ops
WF CC 05/17
333.92
204
Wells Fargo Bank - Credit Card
Vehicle Repair - Ops
WF CC 05/17
155.22
205
Employment Development Dept.
State Income Tax - 06/2017
EDD EFT
12,464
206
Internal Revenue Service (EE)
Fed Income & FICA Taxes EE Paid 06/2017
IRS EFT
58,154
207
Internal Revenue Service (ER)
Fed Income & FICA Taxes ER Paid 06/2017
IRS EFT
21,854
208
CalPERS - Retirement (EE)
Retirement Contributions (EE) - 06/2017
EFT
17,472
209
CalPERS - Retirement (ER)
Retirement Contributions (ER) - 06/2017
EFT
28,443
210
Cal-Pers Health
Health Insurance - 06/2017
EFT
48,014
Vendor Disbursements $ Payroll Checks
(2,071,447) (195,972)
Cash Disbursements $
(2,267,420)
Other Cash Changes Cash Receipts $
1,232,321
Bank Fees
(104)
Transfers Out CERBT
(100,000)
Interest - Bank of Marin/LAIF
856
Cash Receipts & Other Cash Changes
1,133,073
Increase (Decrease) in Cash $
(1,134,347)
Summary of the 10 largest vendors paid ‐ BNY Mellon
Bond 2014 Interest Payment
$
Ranger Pipelines, Inc.
FY 15/16 Gravity Sewer, Large Diameter Gravity Sewer, & Permits
$
545,042 539,687
Harris & Associates
FY 2015/16 & 2016/17 Gravity Sewer Improvements
$
201,137
Brown & Caldwell
Sleepy Hollow Rehab/Large Diameter
$
86,284
CSRMA
Insurance Deductibles - FY 16/17
$
83,835
Lateral Replacement Grant Program
LRGP Payments - 06/2017
$
50,925
Cal-Pers Health
Health Insurance - 06/2017
$
48,014
Pacific Gas & Electric
PG&E Pump Stations & Kerner Building- 04/2017 & 05/2017
$
37,836
Covello Group, Inc.
Retirement Contributions - 05/2017
$
35,855
Downey Brand
Legal Services - 05/2017
$
29,910
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ITEM 8.c ROSS VALLEY SANITARY DISTRICT 2960 Kerner Blvd San Rafael, CA 94901 (415) 259-2949 ~ rvsd.org STAFF REPORT For the Meeting of August 21, 2017 August 16, 2017 To:
Board of Directors
Approved by:
From:
Julie Blue, Accounting & Financial Analyst
Subject:
Review of the Year-End Financial Performance through the Fourth Quarter
Introduction This report summarizes RVSD’s financial performance by comparing actual revenues and expenditures to the amounts that were budgeted through the end of Fiscal Year (FY) 2016/17. Review and analysis is provided for each major category of revenue and expenditures. Revenue The District’s primary sources of revenue are the Sewer Service Charges and Ad Valorem Property Tax (base property tax). Approximately 55% of the annual receipts from these sources are received in December of each year with the remaining 45% received in the Fourth Quarter (April through June). Other revenue sources, such as inspection and connection fees and interest earned, contribute about 2% to the total annual revenue. The estimates for other revenue were based on the prior year’s actual revenue received. The year-to-date variance of actual receipts compared to the budget is favorable at $455,137 or 1.8% above budget which is primarily due to the ad valorem taxes received. Table 1 – Revenue, Budget vs. Actual, FY 2016/17 through Year-End
Revenue Source Sewer Service Charge Ad Valorem Property Tax Other Revenue Total Revenue
FY 2016/17 Budget $18,207,719 $6,014,865 $479,645 $24,702,229
FY 2016/17 Actual $18,012,917 $6,645,701 $498,748 $25,157,366
Variance $
Variance %
-$194,802 $630,836 $19,103 $455,137
-1.1% 10.5% 4.0% 1.8%
Expenditures CMSA Central Main Sanitation Agency (CMSA) charges the District for the wastewater flows sent to the plant for treatment each year as well as a debt service charge to cover their annual debt service requirements. The treatment charges for FY 2016/17 are based upon a combination of RVSD’s percentage of total flows sent to the CMSA plant and the strength of the wastewater. The
allocation of treatment charges were budgeted at 48.3% and the actual flow and strength allocation was calculated at 50.3%. The debt service charge is based on an allocation to the member agencies by EDU count. There is minimal variance from budget for the debt service charges because the RVSD budget was based on the allocations as provided in the CMSA budget. Table 2 – CMSA, Budget vs. Actual, FY 2016/17 through Year-End
CMSA Charge Treatment Charges Debt Service Charges Total CMSA Charges
FY 2016/17 Budget
FY 2016/17 Actual
$5,018,268 $2,152,400 $7,170,668
$5,229,142 $2,143,968 $7,373,110
Variance $
Variance %
$210,874 -$8,432 $202,442
4.2% -0.4% 2.8%
Salaries & Benefits This category of expenditures covers all costs related to the District’s employees, both regular/fulltime and temporary. The District’s FY 2016/17 Budget includes 38 approved positions, with 6 positions in Administration and 32 in Operations. As a whole, the actual cost of Salaries & Benefits came in 1.1%, or $56,189 higher than budget. Administration Salaries & Benefits were 10% higher than budget primarily due to the temporary resources needed to assist with accounting tasks. It is also higher than budget due to the onetime costs for the overlapping interim and newly hired Business and Administrative Services Manager position and a Board approved bonus and cost of living adjustment for the General Manager. Table 3 – Salaries & Benefits, Budget vs. Actual, FY 2016/17 through Year-End
Department Administration Operations Total Salaries & Benefits
FY 2016/17 Budget
FY 2016/17 Actual
$1,110,014 $4,203,006 $5,313,020
$1,221,102 $4,148,107 $5,369,209
Variance $
Variance %
$111,088 -$54,899 $56,189
10.0% -1.3% 1.1%
Other Operations Expenses Other Operations Expenses include vehicle maintenance and fuel, electricity and gas charges for powering the pump stations, materials and tools for performing repairs and regular maintenance to the sewer collection system, and other facility maintenance charges. Overall the actual costs for this category were 19.3% or $355,370 under budget through the end of the fiscal year, although results by category vary. The main category of expenses contributing to this favorable variance is Materials & Tools, at $315,627 or 31.5% below budget. This variance is made up of system maintenance type items that were originally budgeted but were not needed. The largest contributors to this variance are the costs of rehab materials, concrete/paving, equipment repair, and tools. Also a factor of the positive variance is outside engineering and emergency repair costs that were budgeted but not used. The cost for Pump Station Power is over budget by $91,625 or 63%. This unfavorable variance is due to the increase in energy charges from PG&E for Pump Station 15 (PS 15). The energy used to run this pump station during the January storms was approximately twice the average.
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As expected these costs have leveled out during subsequent drier months. Additionally, the increase includes the payback for the PG&E costs to install and replace the transformer at PS 15. Other expenses are under budget by $129,624 or 26.5% due to the expenses included in the budget for the Computerized Maintenance Management System (CMMS) which were not used. This support will be needed and occur in the next fiscal year. There was also office equipment included in the budget for the engineering and inspections department which is anticipated to be spent in the next fiscal year. Table 4 – Operations Expense, Budget vs. Actual, FY 2016/17 through Year-End
Operations Expense Type
FY 2016/17 Budget
FY 2016/17 Actual
Variance $
Variance %
Vehicle Maintenance/Fuel Pump Station Power Materials/Tools/System Main Other Expenses
$203,160 $145,080 $1,002,580 $488,694
$201,416 $236,705 $686,953 $359,070
-$1,744 $91,625 -$315,627 -$129,624
-0.9% 63.2% -31.5% -26.5%
Total Operations Expenses
$1,839,514
$1,484,144
-$355,370
-19.3%
Other Administration Expenses Other Administration Expenses cover the costs of liability insurance and claims, administrative facility maintenance and utilities, office supplies and equipment, and Board expenses along with other miscellaneous costs to support District activities. Actual expenses were under budget by $54,274 or 8.7% through the end of the fiscal year. Insurance and claim expenses are under budget by $61,445 or 20.9%. During the development of this report, additional claims of $18K were received which will further align this item with the budget. Facilities Maintenance and Utilities is over budget by $17,999, in part due to a water leak at the Kerner facility, moving costs for office reconfiguration, costs to set-up network printers, and general repairs needed at the District headquarters. Contributing to the favorable variance are the Board expenses which were under budget by $24,175 or 28.8%. This is due to a decrease in the number of overall board meetings, no meeting occurring in December, and a lower attendance to conference and trainings by board members then budgeted. Also, a change in board policy, starting in April 2017, disallowed payments for CMSA meetings and removed the automatic annual per meeting increase. Table 5 – Administration Expense, Budget vs. Actual, FY 2016/17 through Year-End
Administration Expense Type Insurance and Claims Facility Maintenance/Utilities Board Expenses Office Supplies/Equipment Other Expenses Total Administration Expenses
FY 2016/17 Budget
FY 2016/17 Actual
$294,000 $69,480 $84,018 $83,520 $90,068 $621,086
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$232,555 $87,479 $59,843 $86,502 $100,433 $566,812
Variance $
Variance %
-$61,445 $17,999 -$24,175 $2,982 $10,365 -$54,274
-20.9% 25.9% -28.8% 3.6% 11.5% -8.7%
Insurance Claim Payouts The District carries a pooled liability insurance policy with California Sanitation Risk Management Authority (CSRMA), a consortium of California sanitary and sanitation districts who have pooled together to obtain cost effective insurance coverage. The pooled liability policy covers the District in cases where property damage is incurred by an outside party due to actions of the District. Most claims against this policy stem from sanitary sewer overflows (SSOs) or back-ups that damage homes or other property owned by residents. This policy carries a $50,000 deductible per event or claim. Through the end of FY 2016/17, the District will have incurred a total of $115,781 in deductibles. Outside Services Outside Services are services that are contracted out to private specialty service providers and include Legal Services, Financial Audit, Human Resources, Information Technology, and Public Outreach. The District is 9.3% over budget in Outside Services through the end of FY 2016/17. Overages in Legal Services totaled $45,162. These expenses are reviewed monthly by the Finance Committee and a review of activities is provided to the Board. Information Technology is over budget by $11,887 primarily due to the renewal of support for the District’s network service. This renewal is required every three years and was not specifically included in the budget. Public Outreach is over budget by $28,362. In January 2017, the Board approved the execution of a master services agreement with a consulting firm that was hired to implement a communications and public outreach plan. To date the consulting firm has contributed in the recent community workshop, updating of the website, development and analysis of a community survey, creating press releases, and development of the general manager bulletin. The overages in Legal, Information Technology, and Public Outreach services are partially offset by a favorable variance of $27,451 in Human Resources. This is due to the increase in human resource services provided by in-house staff. Table 7 – Outside Services, Budget vs. Actual, FY 2016/17 through Year-End
Outside Services Type Information Technology Financial Audit Other Consultants Human Resources Consultant Public Outreach Legal Total Outside Services
FY 2016/17 Budget
FY 2016/17 Actual
$60,000 $22,195 $25,000 $220,000 $95,000 $244,000 $666,195
$71,887 $21,145 $29,997 $192,549 $123,362 $289,162 $728,102
Variance $
Variance %
$11,887 -$1,050 $4,997 -$27,451 $28,362 $45,162 $61,907
19.8% -4.7% 20.0% -12.5% 29.9% 18.5% 9.3%
Capital Expenditures Capital Expenditures include both repair and replacement of sewer infrastructure as well as other assets such as land, buildings, and equipment. Other items included in this category are debt service related to bonds or loans used to facilitate capital activities, and programs and studies that enhance or guide them. Through the end of the fiscal year, the District is 67.8% or $23.1M
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under budget. The favorable variance was primarily due to timing and delay of capital program activities and expenditures. Capital Improvement Projects (CIP) expenditures are $20.6M or 74% under budget. This is due to timing of activities related to design and construction for ongoing and upcoming projects. Other Capital Programs is $1.9 or 63% under budget. This is primarily due to delay of the development and implementation of projects, such as, the Hydraulic Model update and improvement activities at the Larkspur Landing Circle property. These and other similar projects will be done in upcoming fiscal years. The Lateral Replacement Grant Program is $97.6K or 19.5% under budget. While the entire budget was not spent for FY 2016/17 there were over 300 applications approved. In order to incentivize customers and encourage continuing participation, the program was restructured for the next fiscal year. Fixed Assets, which include purchases of miscellaneous equipment, large tools, furniture and vehicles, is $318.2 or 58.8% under budget due to the timing of purchases of vehicles and other equipment. The current year-to-date expense includes the purchase of 29 Smart Covers. A portion of the fixed assets are expected to be purchased in the next fiscal year and were included in the budget for FY 2017/18. Table 8 – Capital Expenditures, Budget vs. Actual, FY 2016/17 through Year-End
Capital Expenditure Type Capital Improvement Projects Other Capital Programs/Projects Lateral Grant/Loan Programs Fixed Assets Debt Service Total Capital Expenditures
FY 2016/17 Budget
FY 2016/17 Actual
$27,836,000 $3,014,600 $500,000 $540,890 $2,263,382 $34,154,872
$7,228,854 $1,115,142 $402,425 $222,707 $2,038,359 $11,007,487
Variance $ -$20,607,146 -$1,899,458 -$97,575 -$318,183 -$225,023 -$23,147,385
Variance % -74.0% -63.0% -19.5% -58.8% -9.9% -67.8%
2014 Revenue Bond On November 4, 2014, the District issued revenue bonds with a par value totaling $30,155,000 at a true interest rate of 3.51% over the 25-year term. The bond proceeds, which totaled $30,719,000, will fund a portion of the District’s Capital Improvement Projects for the FY 2016/17. A portion of the bond proceeds (approximately $1.5 million) were used to supplement the funding for financial assistance programs for private sewer lateral replacements. Proceeds from this bond issuance began to be applied to specific projects during the first quarter of FY 2015/16. To date, approximately $19.9 million in proceeds have been applied to capital projects. An analysis of the rates of return on approved investments was performed, which led to the largest portion of the proceeds ($28.4 million) invested with the Local Agency Investment Fund (LAIF), which currently is yielding a 0.78% annual interest rate. A smaller portion ($2.3 million) was invested in a portfolio managed by the District’s Trustee, Bank of New York Mellon. Table 9, below, provides more detail on the funding and uses of the 2014 Revenue Bond.
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Table 9 – 2014 Revenue Bond, Proceeds and Uses
Sanitary District #1 of Marin County Revenue Bond Proceeds and Uses - Bond 2014 As of 06/30/17 Financial Transactions Date Transaction 11/13/14 Bond Par Amount 11/13/14 Net Bond Premium
11/13/14 11/13/14 11/13/14 11/13/14
Bond Proceeds
Amount 30,155,000 1,243,225 31,398,225
Bond Costs
177,057 446,035 31,585 24,548 679,225
Total Net Financial Bond Transactions
30,719,000
Less: Cost of Issuance Underwriters Discount Bond Insurance Premium Surety Bond Premium
Project Fund Lateral Fund Total Project Funds
[1]
[2] [3] = [1] - [2]
29,171,390 1,547,610 30,719,000
Capital Projects Transaction Magnolia Trunkline FY 2014/15 Pipeline Rehab Proj FY14/15 Force Main Appurtenance Project Pump Stations Large Diameter Gravity Sewer #2 Large Diameter Gravity Sewer #1 FY 2015/16 Gravity Sewer Improv FY 2016/17 Gravity Sewer Improv Ichabod/Van Ripper Sleepy Hollow SSRMP - Magnolia Project Lateral Replacements Total to be Reimbursed Bond Proceeds Less Capital Projects
Amount 06/30/17 2,510,884 * 5,995,117 * 2,303,103 1,380,914 1,062,070.35 520,018.58 2,834,468 1,333,053 77,855 301,304 1,547,610 19,866,396 [4] 10,852,604
[5] = [3] - [4]
* Project is funded by proceeds from both the 2013 and 2014 Revenue Bonds
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0.04
Fund Balances and Reserves In June 2016 the Board adopted an updated financial policy for Fund Balances and Reserves. This policy set minimum fund balance targets for the end of each fiscal year, based upon cash flow requirements which are influenced heavily by the timing of the County’s distribution of the Sewer Service Charge and Ad Valorem Property Tax revenues. Reserves are funds that are set aside for use in defined situations. They are intended to provide financial stability sufficient to keep important programs running, even when unforeseen negative financial impacts are experienced. The policy established three reserves intended to provide financial stability, prevent cash shortfall due to unforeseen occurrences, and enable the District to adapt to changing conditions while minimizing “rate shock” to the ratepayers. The FY 2016/17 Budget includes a schedule that calculates the target balances of each fund balance and reserve and, based upon the financial activity detailed in the budget, forecasts the actual balances at the end of the fiscal year. Below is Table 10 showing that the projected ending cash balance is $13.7 million higher than planned. The largest contribution to the variance is $10.9 million from the restricted 2014 bond funds, and is attributed to slower than budgeted spend rate. Table 10 – FY 2016/17 Forecast of Fund Balances and Reserves
Fund Balance or Reserve O&M Fund Balance Capital Fund Balance Capital Reserve Emergency Reserve OPEB Reserve 2014 Bond Proceeds (restricted) Total Fund Balances & Reserves
$8,414,363 $19,084,814 $12,806,676 $2,000,000 $270,000 $0
$8,414,363 $11,652,604 0 $2,000,000 $270,000 $0
$8,414,363 $14,523,874 $0 $2,000,000 $270,000 $10,852,604
Variance From Budget $0 $2,871,270 $0 $0 $0 $10,852,604
$42,575,853
$22,336,967
$36,060,841
$13,723,874
Policy Target for Reserves
FY 2016/17 Budget
FY 2016/17 Projected
Conclusion The District’s financial performance through the end of the FY 2016/17 follows the approved budget, with lower than budgeted expenditures on capital and operational activities. While some variances from budget occurred, they are tracked and managed through the quarterly reporting process. The Capital Improvement Program is underway and on target to meet key deadlines set by the RWQCB, even though actual expenditures are lower than budgeted for the current fiscal year. The overall cash position has been improved through the implementation of plans developed through the Asset Management and Budgeting process. Cash at the beginning of the year was $39.3 million and is projected by year-end to be $25.2 million in unrestricted cash, with another $10.9 million in cash from bond proceeds with restricted use for capital projects. The Capital Improvement Program will need to be monitored closely and updated as needs and schedules change, as this has an impact on the timing of expenditures and the revenue required to fund them. As the 2014 Bond Proceeds are spent, other sources of funding will be evaluated for use in continuing to fund the Capital Improvement Program in future years.
Page 7 of 8
Chart 1 – Expenditures by Type, Budget vs. Actual, FY 2016/17
Thousands
FY 2016/17, through Year-End Budget vs. Actual
$50,000
$40,000 Capital Expenditures Other Operation Expense
$30,000
Other Administration Expense Outside Services Salaries & Benefits $20,000
CMSA
$10,000
$0 Budget
Actual
Page 8 of 8